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IFC to lend $450 m to Tata Power

NEW DELHI: The International Finance Corporation (IFC) on Wednesday said it would plan to lend $450 million (Rs. 1,800 crore) to Tata Power for setting up the 4,000-MW Ultra Mega Power Project at Mundra in Gujarat. The $4.2-billion coal-fired power project will supply electricity to five States of western and northern India.